Originally Posted by
SideStickMonkey
Must be great using traiffs (otherwise known as taxes paid by the populace) to pay for things
Tariffs are just another consumption tax. Price of goods go up, so does inflation.
But since we keep firing the people that track this information I’m sure it’s all on the up and up
According to Center for Economic and Policy Research the actual recent tariffs have been about 8.5% of import goods. Even though promised at 17.5%.
Large importers tend to not be paying them. They make "deals", so they avoid them. (actually the "deals" would be more accurately called purchase and sale agreements. Same as the international trade deals)
Example: Apple CEO gave the current President gift of a gold medallion. On television no less. As a result, Apple is now exempt from the 100% tariffs on semi-conductors and the tariffs on smartphones.
This shows up in the more recent job loss figures. They are being borne mostly by small and midsize employers.
They simply can't pay the protection racket money. So they get hit with the tariffs.
The reason there hasn't been more inflation from tariffs is they aren't being applied in the amounts stated.